Gold still within a Triangle / Keeping my Selling order

Gold's general commentary: As expected, Gold is so far holding the #1,722.80 - #1,732.80 belt intact and Hourly 4 chart’s Resistance is aswell stalling the uptrend. Gold is pricing it’s Higher Low first time after #12 sessions, and it is extending it’s Daily chart solid Channel Down range with #1,744.80 as the next Higher Low Resistance. Despite another session of DX Trading without a recovery, Gold is less affected as it continues to be more tied to Bond notes. Note how Gold holds it’s correlation with Bond notes almost on every aspect. Gold is once again used as a safe-haven asset as speculators are keeping the Buying bias alive, as DX and Bond notes aswell are not Trading on gains anymore / also without signs of a recovery, it was Natural to expect Buyers to re-appear with indicators on critical levels pointing to an eminent #10 point uptrend, but still, movement is within my model. As long as this variance continues, Selling sentiment will be postponed. Especially if the Fundamental announcements later this week also disappoint. I remain Bearish of course on Short-term with my previous levels unchanged, but just to secure my capital and use every opportunity to spot most accurate pattern, I will carefully monitor the markets in order to prevent unexpected scenarios and pick the optimal exit point.


Technical analysis: Gold remains Neutral on an Intra-day level and the Hourly 1 chart still respecting my #1,722.80 estimated Support range. Bond notes are on a slight rise (what causes Bearish spikes), DX flat and U.S. futures are ranging and this is the mix that is keeping Gold (Xau-Usd as always on my focus) Neutral and within + - #10$ belt. The Hourly 1 # Support zone is near so watch out for an Intra-day rebound there. Gold is on a tight spot around the current mark (spot price) and is consolidating on Hourly 1 (Micro level) since Friday's U.S. opening Bell. DX was taking strong hits this week and miraculously recovered last week and that configuration should again bring consolidation candles as I believe that since Gold is approaching the #1,717.80 - #1,722.80 zone of the Daily chart Channel Down started on January #6, Gold will dip towards #1,700.80 and is only matter of time (where the Daily chart Lower Low extension currently is). Unless DX and Bond notes fall dramatically (I give less chances to that as inflation is growing) Gold has to engage the aggressive decline. One of the dangers which could invalidate my model, is apparent Golden Cross on Hourly chart which is seemingly reproducing, as #MA200 and #MA50 are about to cross each other.


My position: I am holding steadily my Selling order calling for #1,700.80 psychological barrier test, and I will keep holding it as long as correlating assets are Trading in my favor. I have a wider Stop-loss as my margin can handle it since I am more than satisfied with my Yearly Profits.